TRS 4 1/8 04/15/29

0001752724-24-045925.txt : 20240228 0001752724-24-045925.hdr.sgml : 20240228 20240228140042 ACCESSION NUMBER: 0001752724-24-045925 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240228 DATE AS OF CHANGE: 20240228 PERIOD START: 20240930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIMOTHY PLAN CENTRAL INDEX KEY: 0000916490 ORGANIZATION NAME: IRS NUMBER: 597016828 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-08228 FILM NUMBER: 24693612 BUSINESS ADDRESS: STREET 1: 1055 MAITLAND CENTER COMMONS CITY: MAITLAND STATE: FL ZIP: 32751 BUSINESS PHONE: 4076441986 MAIL ADDRESS: STREET 1: 1055 MAITLAND CENTER COMMONS CITY: MAITLAND STATE: FL ZIP: 32751

0000916490 S000017791 Timothy Plan High Yield Bond Fund

C000049122 Timothy Plan High Yield Bond Fund Class A TPHAX

C000065171 Timothy Plan High Yield Bond Fund Class C TPHCX

C000127001 Timothy Plan High Yield Bond Fund Class I TPHIX

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Incorporated 549300XH5RYBMYP8TF26 IMKTA 4 06/15/31 457030AK0 1250000.00000000 PA USD 1104506.25000000 0.602254132507 Long DBT CORP US Y 2 2031-06-15 Fixed 4.00000000 N N N N N N Fidelity Institutional Cash Portfolios 549300SHPEJB1OPRCV46 FID-MM GOVT-I 316175108 13055815.20000000 PA USD 13055815.20000000 7.118944467228 Long STIV RF US N 1 N N N Mozart Debt Merger Subordinated Inc. 254900QT3R363TVK6F09 MEDIND 3 7/8 04/01/29 62482BAA0 1000000.00000000 PA USD 905211.90000000 0.493584900556 Long DBT CORP US Y 2 2029-04-01 Fixed 3.87500000 N N N N N N GFL Environmental Inc. 549300FYK4MBXWIVZU26 GFLCN 6 3/4 01/15/31 36168QAQ7 500000.00000000 PA USD 515862.00000000 0.281284077209 Long DBT CORP CA Y 2 2031-01-15 Fixed 6.75000000 N N N N N N Energizer Holdings Inc 5493000D6NN0V57UME20 ENR 6 1/2 12/31/27 29272WAF6 2050000.00000000 PA USD 2052113.24000000 1.118955804155 Long DBT CORP US Y 2 2027-12-31 Fixed 6.50000000 N N N N N N Mativ Holdings Inc 549300Z1FU4IDULG1R21 SWM 6 7/8 10/01/26 808541AA4 1000000.00000000 PA USD 960361.73000000 0.523656448838 Long DBT CORP US Y 2 2026-10-01 Fixed 6.87500000 N N N N N N BWX Technologies Inc 549300NP85N265KWMS58 BWXT 4 1/8 04/15/29 05605HAC4 500000.00000000 PA USD 456792.50000000 0.249075250432 Long DBT CORP US Y 2 2029-04-15 Fixed 4.12500000 N N N N N N Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp. N/A LADR 4 1/4 02/01/27 505742AM8 1250000.00000000 PA USD 1178905.13000000 0.642821610449 Long DBT CORP US Y 2 2027-02-01 Fixed 4.25000000 N N N N N N CQP Holdco LP & Bip-V Chinook Holdco LLC 549300LPL012JY5D4B69 BLKCQP 5 1/2 06/15/31 12657NAA8 2822000.00000000 PA USD 2677583.87000000 1.460006179995 Long DBT CORP US Y 2 2031-06-15 Fixed 5.50000000 N N N N N N Bausch Health Companies Inc. KOO0397YRO83WY5MGD97 BHCCN 8 1/2 01/31/27 91911XAW4 439000.00000000 PA USD 244328.74000000 0.133225134176 Long DBT CORP CA Y 2 2027-01-31 Fixed 8.50000000 N N N N N N Genesis Energy L.P. 549300VJ5D6MDK138782 GEL 8 1/4 01/15/29 37185LAP7 100000.00000000 PA USD 102864.90000000 0.056089144914 Long DBT CORP US N 2 2029-01-15 Fixed 8.25000000 N N N N N N ILFC E-Capital Trust II N/A AER 6 1/4 12/21/65 44965UAA2 1500000.00000000 PA USD 1168306.79000000 0.637042653506 Long DBT CORP US Y 2 2065-12-21 Floating 7.43622800 N N N N N N Waste Pro USA Inc 549300BY1QXU5BI3UF28 WASPRO 5 1/2 02/15/26 94107JAA1 2200000.00000000 PA USD 2119986.00000000 1.155964784589 Long DBT CORP US Y 2 2026-02-15 Fixed 5.50000000 N N N N N N Service Properties Trust 529900IS770AG1K9QG27 SVC 8 5/8 11/15/31 81761LAC6 375000.00000000 PA USD 393181.88000000 0.214390287114 Long DBT CORP US Y 2 2031-11-15 Fixed 8.62500000 N N N N N N Darling Ingredients, Inc L1N0SPPKS7EXZYUMZ898 DAR 6 06/15/30 237266AJ0 1600000.00000000 PA USD 1602123.20000000 0.873589731145 Long DBT CORP US Y 2 2030-06-15 Fixed 6.00000000 N N N N N N TMS International Corp 549300L4K0F1YF8WKF23 TMS 6 1/4 04/15/29 87261QAC7 2804000.00000000 PA USD 2317099.42000000 1.263444820820 Long DBT CORP US Y 2 2029-04-15 Fixed 6.25000000 N N N N N N Ashton Woods (USA) LLC/Ashton Woods Finance Co. N/A ASHWOO 6 5/8 01/15/28 045086AK1 500000.00000000 PA USD 487697.34000000 0.265926732807 Long DBT CORP US Y 2 2028-01-15 Fixed 6.62500000 N N N N N N Entegris Escrow Corp. IYX6OWO7BT5DKO3BYG52 ENTG 4 3/4 04/15/29 29365BAA1 2250000.00000000 PA USD 2169470.48000000 1.182947187427 Long DBT CORP US Y 2 2029-04-15 Fixed 4.75000000 N N N N N N Pactiv Evergreen Group Issuer Incorporated / Pactiv Evergreen Group Issuer Llc N/A PTVE 4 3/8 10/15/28 69527AAA4 3500000.00000000 PA USD 3264376.40000000 1.779966547912 Long DBT CORP US Y 2 2028-10-15 Fixed 4.37500000 N N N N N N Clean Harbors, Inc. 5493000SJVZVZJKHJF48 CLH 6 3/8 02/01/31 184496AQ0 1625000.00000000 PA USD 1654097.25000000 0.901929621839 Long DBT CORP US Y 2 2031-02-01 Fixed 6.37500000 N N N N N N Polar Us Borrower LLC / Schenectady International Group Inc. 549300VWTN2NKZWJ5F70 SIGRP 6 3/4 05/15/26 73103PAA5 2000000.00000000 PA USD 651920.00000000 0.355472424048 Long DBT CORP US Y 2 2026-05-15 Fixed 6.75000000 N N N N N N Raising Canes Restaurants LLC 254900V6ADXFWHYOED66 RZNCAN 9 3/8 05/01/29 75103AAA3 1250000.00000000 PA USD 1335602.50000000 0.728263986747 Long DBT CORP US Y 2 2029-05-01 Fixed 9.37500000 N N N N N N Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp. N/A ET 5 3/4 04/01/25 226373AP3 500000.00000000 PA USD 500512.50000000 0.272914455211 Long DBT CORP US N 2 2025-04-01 Fixed 5.75000000 N N N N N N OneMain Financial Corporation 5493008I795YYBFWFU90 OMF 9 01/15/29 682695AA9 1500000.00000000 PA USD 1587979.50000000 0.865877595724 Long DBT CORP US N 2 2029-01-15 Fixed 9.00000000 N N N N N N Kaiser Aluminium Corporation N/A KALU 4 1/2 06/01/31 483007AL4 2000000.00000000 PA USD 1727315.00000000 0.941853065016 Long DBT CORP US Y 2 2031-06-01 Fixed 4.50000000 N N N N N N Aretec Escrow Issuer 2 Inc. N/A RCAP 10 08/15/30 04020JAA4 1250000.00000000 PA USD 1329875.00000000 0.725140952772 Long DBT CORP US Y 2 2030-08-15 Fixed 10.00000000 N N N N N N Diversified Healthcare Trust N/A DHC 9 3/4 06/15/25 25525PAA5 1500000.00000000 PA USD 1473803.70000000 0.803620956269 Long DBT CORP US N 2 2025-06-15 Fixed 9.75000000 N N N N N N Howard Hughes Holdings Inc. 549300BVHY25JZC1KI49 HHH 4 3/8 02/01/31 44267DAF4 3499000.00000000 PA USD 3040753.47000000 1.658031670934 Long DBT CORP US Y 2 2031-02-01 Fixed 4.37500000 N N N N N N 2024-01-26 TIMOTHY PLAN Arthur D. Ally Arthur D. Ally President & Treasurer XXXX NPORT-EX 2 timothy-nq.htm TIMOTHY HIGH YIELD 12.31.23

TIMOTHY PLAN SMALL/MID CAP GROWTH FUND
(Formerly known as Timothy Plan Aggressive Growth Fund)

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 96.7%
		AEROSPACE & DEFENSE - 1.5%
	942	TransDigm Group, Inc.	$	952,927

		APPAREL & TEXTILE PRODUCTS - 3.2%
	3,078	Deckers Outdoor Corporation^(a)		2,057,428

		BIOTECH & PHARMA - 2.1%
	1,792	Argenx S.E. - ADR^(a)		681,731
	12,982	Ionis Pharmaceuticals, Inc.^(a)		656,759
				1,338,490
		COMMERCIAL SUPPORT SERVICES - 3.0%
	11,087	Clean Harbors, Inc.^(a)		1,934,792

		DATA CENTER REIT - 2.0%
	9,400	Digital Realty Trust, Inc.		1,265,052

		DIVERSIFIED INDUSTRIALS - 1.9%
	8,091	Dover Corporation		1,244,477

		ELECTRICAL EQUIPMENT - 6.0%
	16,253	Amphenol Corporation, Class A		1,611,161
	5,407	Trane Technologies PLC		1,318,767
	19,280	Vertiv Holdings Company		926,018
				3,855,946
		ENGINEERING & CONSTRUCTION - 2.2%
	6,415	Quanta Services, Inc.		1,384,357

		HEALTH CARE FACILITIES & SERVICES - 5.2%
	9,089	Cardinal Health, Inc.		916,171
	8,589	ICON plc^(a)		2,431,288
				3,347,459
		HOME CONSTRUCTION - 6.8%
	68,940	AZEK Company, Inc. (The)^(a)		2,636,955
	11,430	Lennar Corporation, Class A		1,703,527
				4,340,482

TIMOTHY PLAN SMALL/MID CAP GROWTH FUND
(Formerly known as Timothy Plan Aggressive Growth Fund)

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 96.7% (Continued)
		INDUSTRIAL SUPPORT SERVICES - 2.2%
	2,505	United Rentals, Inc.	$	1,436,417

		LEISURE FACILITIES & SERVICES - 3.1%
	4,855	Domino’s Pizza, Inc.		2,001,377

		MACHINERY - 7.3%
	7,892	Lincoln Electric Holdings, Inc.		1,716,194
	9,790	Oshkosh Corporation		1,061,334
	3,921	Parker-Hannifin Corporation		1,806,404
				4,583,932
		MEDICAL EQUIPMENT & DEVICES - 6.8%
	1,886	Align Technology, Inc.^(a)		516,764
	67,813	Avantor, Inc.^(a)		1,548,172
	6,190	DexCom, Inc.^(a)		768,117
	19,210	GE HealthCare Technologies, Inc.		1,485,317
				4,318,370
		OIL & GAS PRODUCERS - 6.2%
	10,415	Cheniere Energy, Inc.		1,777,944
	10,662	Devon Energy Corporation		482,989
	6,319	Diamondback Energy, Inc.		979,951
	19,229	EQT Corporation		743,393
				3,984,277
		RENEWABLE ENERGY - 2.6%
	9,486	First Solar, Inc.^(a)		1,634,248

		RETAIL - DISCRETIONARY - 4.1%
	13,538	Burlington Stores, Inc.^(a)		2,632,870

		SEMICONDUCTORS - 8.1%
	4,467	Monolithic Power Systems, Inc.		2,817,694
	21,788	ON Semiconductor Corporation^(a)		1,819,952
	4,739	Skyworks Solutions, Inc.		532,758
				5,170,404

TIMOTHY PLAN SMALL/MID CAP GROWTH FUND
(Formerly known as Timothy Plan Aggressive Growth Fund)

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 96.7% (Continued)
		SOFTWARE - 7.5%
	5,267	Crowdstrike Holdings, Inc., Class A^(a)	$	1,344,770
	11,798	Fortinet, Inc.^(a)		690,537
	1,716	MongoDB, Inc.^(a)		701,587
	9,176	Zscaler, Inc.^(a)		2,033,035
				4,769,929
		SPECIALTY FINANCE - 2.2%
	19,011	AerCap Holdings N.V.^(a)		1,412,898

		TECHNOLOGY HARDWARE - 8.0%
	9,136	Arista Networks, Inc.^(a)		2,151,618
	16,034	Seagate Technology Holdings plc		1,368,823
	5,948	Super Micro Computer, Inc.^(a)		1,690,778
				5,211,219
		TECHNOLOGY SERVICES - 4.7%
	10,696	Block, Inc., Class A^(a)		827,336
	3,340	Globant S.A.^(a)		794,853
	2,471	MSCI, Inc.		1,397,721
				3,019,910

		TOTAL COMMON STOCKS (Cost $51,585,872)		61,897,261

		SHORT-TERM INVESTMENTS — 3.3%
		MONEY MARKET FUNDS - 3.3%
	2,101,293	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $2,101,293)^(b)		2,101,293

		TOTAL INVESTMENTS - 100.0% (Cost $53,687,165)	$	63,998,554
		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(30,367	)
		NET ASSETS - 100.0%	$	63,968,187


ADR	- American Depositary Receipt

MSCI	- Morgan Stanley Capital International

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

S.A.	- Société Anonyme

^(a)	Non-income producing security.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 97.9%
		AEROSPACE & DEFENSE - 3.3%
	82,000	Safran S.A. - ADR	$	3,618,660
	73,000	Thales S.A. - ADR		2,156,128
				5,774,788
		AUTOMOTIVE - 1.9%
	55,800	Magna International, Inc.		3,296,664

		BANKING - 10.6%
	48,339	DBS Group Holdings Ltd. - ADR		4,894,806
	99,000	DNB Bank ASA - ADR		2,106,720
	44,900	HDFC Bank Ltd. - ADR		3,013,239
	120,100	ICICI Bank Ltd. - ADR		2,863,184
	294,000	Itau Unibanco Holding S.A. - ADR		2,043,300
	52,500	KBC Group N.V. - ADR		1,705,200
	208,000	Sumitomo Mitsui Financial Group, Inc. - ADR		2,013,440
				18,639,889
		BIOTECH & PHARMA - 1.1%
	5,200	Argenx S.E. - ADR^(a)		1,978,236

		CHEMICALS - 2.2%
	98,420	Air Liquide S.A. - ADR		3,833,459

		CONSTRUCTION MATERIALS - 2.3%
	58,000	CRH plc		4,011,280

		ELECTRIC UTILITIES - 3.4%
	453,000	Enel - Societa per Azioni - ADR		3,349,935
	50,200	Iberdrola S.A. - ADR		2,635,500
				5,985,435
		ELECTRICAL EQUIPMENT - 3.1%
	72,000	ABB Ltd. - ADR		3,189,600
	134,000	Daikin Industries Ltd. - ADR		2,166,780
				5,356,380
		ENGINEERING & CONSTRUCTION - 4.5%
	148,000	Cellnex Telecom S.A. - ADR		2,906,720

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 97.9% (Continued)
		ENGINEERING & CONSTRUCTION - 4.5% (Continued)
	155,000	Vinci S.A. - ADR	$	4,888,700
				7,795,420
		FOOD - 1.9%
	26,300	Kerry Group plc - ADR		2,300,887
	53,000	Mowi ASA - ADR		947,110
				3,247,997
		HEALTH CARE FACILITIES & SERVICES - 2.3%
	14,400	ICON plc^(a)		4,076,208

		HOUSEHOLD PRODUCTS - 3.6%
	137,000	Beiersdorf A.G. - ADR		4,095,958
	315,000	Unicharm Corporation - ADR		2,275,875
				6,371,833
		INDUSTRIAL SUPPORT SERVICES - 1.6%
	10,000	Ashtead Group plc - ADR		2,842,500

		INSTITUTIONAL FINANCIAL SERVICES - 5.0%
	194,500	Deutsche Boerse A.G. - ADR		3,996,003
	157,000	London Stock Exchange Group plc - ADR		4,706,075
				8,702,078
		INSURANCE - 5.4%
	23,500	Ageas S.A./NV - ADR		1,018,960
	79,000	AIA Group Ltd. - ADR		2,738,930
	66,400	Muenchener Rueckversicherungs-Gesellschaft A.G. in - ADR		2,792,784
	113,000	Tokio Marine Holdings, Inc. - ADR		2,815,960
				9,366,634
		INTERNET MEDIA & SERVICES - 2.0%
	576,181	Prosus N.V. - ADR		3,428,277
	43,600	Yandex N.V., Class A^(a)(b)(c)		43,600
				3,471,877
		LEISURE PRODUCTS - 0.8%
	95,000	Shimano, Inc. - ADR		1,464,900

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 97.9% (Continued)
		MACHINERY - 4.9%
	254,000	Atlas Copco A.B. - ADR	$	3,792,220
	82,150	Techtronic Industries Company Ltd. - ADR		4,901,069
				8,693,289
		MEDICAL EQUIPMENT & DEVICES - 8.2%
	61,900	Alcon, Inc.		4,835,628
	35,600	Hoya Corporation - ADR		4,432,912
	118,000	Olympus Corporation - ADR		1,695,188
	76,400	Smith & Nephew plc - ADR		2,084,192
	39,500	Sysmex Corporation - ADR		1,096,520
				14,144,440
		METALS & MINING - 1.4%
	32,300	Rio Tinto plc - ADR		2,405,058

		OIL & GAS PRODUCERS - 5.7%
	60,000	Canadian Natural Resources Ltd.		3,931,200
	151,000	Equinor ASA - ADR		4,777,640
	81,500	Petroleo Brasileiro S.A. - ADR		1,301,555
				10,010,395
		RETAIL - CONSUMER STAPLES - 1.1%
	100,000	Seven & i Holdings Company Ltd. - ADR		1,984,000

		SEMICONDUCTORS - 6.9%
	7,400	ASM International N.V. - ADR		3,842,080
	11,000	NXP Semiconductors N.V.		2,526,480
	29,900	Taiwan Semiconductor Manufacturing Company Ltd. - ADR		3,109,600
	28,200	Tokyo Electron Ltd. - ADR		2,505,288
				11,983,448
		SOFTWARE - 2.7%
	17,400	Nice Ltd. - ADR^(a)		3,471,474
	30,640	Open Text Corporation		1,287,493
				4,758,967
		SPECIALTY FINANCE - 2.1%
	39,500	ORIX Corporation - ADR		3,688,905

TIMOTHY PLAN INTERNATIONAL FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 97.9% (Continued)
		TECHNOLOGY HARDWARE - 1.8%
	53,138	FUJIFILM Holdings Corporation - ADR	$	3,174,464

		TECHNOLOGY SERVICES - 3.8%
	70,000	Amadeus IT Group S.A. - ADR		5,045,600
	89,000	Infosys Ltd. - ADR		1,635,820
				6,681,420
		TRANSPORTATION & LOGISTICS - 2.8%
	61,800	Canadian Pacific Kansas City Ltd.		4,885,908

		WHOLESALE - CONSUMER STAPLES - 1.5%
	32,400	ITOCHU Corporation - ADR		2,638,656


		TOTAL COMMON STOCKS (Cost $140,873,631)		171,264,528

		SHORT-TERM INVESTMENTS — 1.9%
		MONEY MARKET FUNDS - 1.9%
	3,318,454	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $3,318,454)^(d)		3,318,454

		TOTAL INVESTMENTS - 99.8% (Cost $144,192,085)	$	174,582,982
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2%		392,059
		NET ASSETS - 100.0%	$	174,975,041

ADR	- American Depositary Receipt

LTD	- Limited Company

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

S.A.	- Société Anonyme

^(a)	Non-income producing security.

^(b)	Illiquid security. At December 31, 2023, the illiquid security amounted to 0.02% of net assets.

^(c)	The value of this security has been determined in good faith under policies approved by the Board of Trustees. This is a level 3 security.

^(d)	Rate disclosed is the seven day effective yield as of December 31, 2023.

SCHEDULE OF INVESTMENTS
TIMOTHY PLAN INTERNATIONAL FUND
DECEMBER 31, 2023

Diversification of Assets
Country	% of Net Assets
Japan		18.3	%
France		8.3	%
Canada		7.7	%
United Kingdom		6.9	%
Netherlands		6.7	%
Germany		6.2	%
Spain		6.0	%
Ireland		5.9	%
Switzerland		4.6	%
Norway		4.5	%
Hong Kong		4.4	%
India		4.3	%
Singapore		2.8	%
Sweden		2.2	%
Israel		2.0	%
Italy		1.9	%
Brazil		1.9	%
Taiwan Province Of China		1.8	%
Belgium		1.5	%
Russia		0.0	%*
Total		97.9	%
Money Market Funds		1.9	%
Other Assets Less Liabilities - Net		0.2	%
Grand Total		100.0	%

Less than 0.05%.

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 84.8%
		AEROSPACE & DEFENSE - 1.9%
	3,239	TransDigm Group, Inc.	$	3,276,572

		APPAREL & TEXTILE PRODUCTS - 0.5%
	34,132	On Holding A.G.^(a)		920,540

		AUTOMOTIVE - 0.4%
	2,530	Tesla, Inc.^(a)		628,654

		BANKING - 1.8%
	45,096	Western Alliance Bancorp		2,966,866

		BIOTECH & PHARMA - 1.9%
	1,333	Regeneron Pharmaceuticals, Inc.^(a)		1,170,761
	10,661	Zoetis, Inc.		2,104,161
				3,274,922
		CABLE & SATELLITE - 1.6%
	4,867	Cable One, Inc.		2,708,924

		CHEMICALS - 3.6%
	19,904	FMC Corporation		1,254,947
	11,560	Linde plc		4,747,808
				6,002,755
		CONSTRUCTION MATERIALS - 2.9%
	9,990	Martin Marietta Materials, Inc.		4,984,111

		DATA CENTER REIT - 1.8%
	22,867	Digital Realty Trust, Inc.		3,077,441

		ELECTRIC UTILITIES - 0.9%
	25,433	NextEra Energy, Inc.		1,544,800

		ELECTRICAL EQUIPMENT - 4.7%
	43,431	Amphenol Corporation, Class A		4,305,315
	19,022	Fortive Corporation		1,400,590

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 84.8% (Continued)
		ELECTRICAL EQUIPMENT - 4.7% (Continued)
	14,207	Keysight Technologies, Inc.^(a)	$	2,260,192
				7,966,097
		HEALTH CARE FACILITIES & SERVICES - 0.8%
	2,788	Humana, Inc.		1,276,374

		INFRASTRUCTURE REIT - 0.9%
	13,204	Crown Castle, Inc.		1,520,969

		INSTITUTIONAL FINANCIAL SERVICES - 1.5%
	20,318	Intercontinental Exchange, Inc.		2,609,441

		INSURANCE - 4.8%
	20,183	Arthur J Gallagher & Company		4,538,753
	107,010	Equitable Holdings, Inc.		3,563,433
				8,102,186
		LEISURE FACILITIES & SERVICES - 2.1%
	1,535	Chipotle Mexican Grill, Inc.^(a)		3,510,484

		MACHINERY - 1.8%
	27,432	Oshkosh Corporation		2,973,903

		MEDICAL EQUIPMENT & DEVICES - 6.9%
	4,960	Danaher Corporation		1,147,446
	17,416	Insulet Corporation^(a)		3,778,924
	9,511	Intuitive Surgical, Inc.^(a)		3,208,631
	46,825	Merit Medical Systems, Inc.^(a)		3,556,827
				11,691,828
		OIL & GAS PRODUCERS - 2.9%
	23,554	ConocoPhillips		2,733,913
	13,713	Diamondback Energy, Inc.		2,126,612
				4,860,525
		RETAIL - CONSUMER STAPLES - 1.6%
	4,071	Costco Wholesale Corporation		2,687,186

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 84.8% (Continued)
		RETAIL - DISCRETIONARY - 3.2%
	7,627	Lowe’s Companies, Inc.	$	1,697,389
	3,960	O’Reilly Automotive, Inc.^(a)		3,762,317
				5,459,706
		SEMICONDUCTORS - 13.9%
	24,663	Advanced Micro Devices, Inc.^(a)		3,635,573
	10,155	Analog Devices, Inc.		2,016,377
	5,779	Broadcom, Inc.		6,450,808
	4,029	KLA Corporation		2,342,058
	10,072	NVIDIA Corporation		4,987,855
	7,512	NXP Semiconductors N.V.		1,725,356
	30,806	ON Semiconductor Corporation^(a)		2,573,225
				23,731,252
		SOFTWARE - 13.7%
	43,735	DocuSign, Inc.^(a)		2,600,046
	3,037	HubSpot, Inc.^(a)		1,763,100
	1,752	MongoDB, Inc.^(a)		716,305
	20,149	Palo Alto Networks, Inc.^(a)		5,941,538
	5,774	ServiceNow, Inc.^(a)		4,079,273
	7,851	Synopsys, Inc.^(a)		4,042,558
	9,560	Tyler Technologies, Inc.^(a)		3,997,227
				23,140,047
		TECHNOLOGY HARDWARE - 4.1%
	12,245	Arista Networks, Inc.^(a)		2,883,820
	49,510	Ciena Corporation^(a)		2,228,445
	20,529	Seagate Technology Holdings plc		1,752,561
				6,864,826
		TECHNOLOGY SERVICES - 2.3%
	16,971	CDW Corporation		3,857,848

		TRANSPORTATION & LOGISTICS - 1.4%
	29,006	Canadian Pacific Kansas City Ltd.		2,293,214

TIMOTHY PLAN LARGE/MID CAP GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 84.8% (Continued)
		TRANSPORTATION EQUIPMENT - 0.9%
	16,394	PACCAR, Inc.	$	1,600,874

		TOTAL COMMON STOCKS (Cost $108,074,359)		143,532,345

		EXCHANGE-TRADED FUNDS — 13.1%
		EQUITY - 13.1%
	624,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(b)		14,220,898
	209,000	Timothy Plan US Large/Mid Cap Core ETF^(b)		7,986,266
		TOTAL EXCHANGE-TRADED FUNDS (Cost $21,565,045)		22,207,164

		SHORT-TERM INVESTMENTS — 2.1%
		MONEY MARKET FUNDS - 2.1%
	3,616,211	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $3,616,211)^(c)		3,616,211

		TOTAL INVESTMENTS - 100.0% (Cost $133,255,615)	$	169,355,720
		LIABILITIES IN EXCESS OF OTHER ASSETS – (0.0)%		(11,813	)
		NET ASSETS - 100.0%	$	169,343,907

ETF	- Exchange-Traded Fund

LTD	- Limited Company

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

^(a)	Non-income producing security.

^(b)	Investment in affiliate.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 88.0%
		AEROSPACE & DEFENSE - 2.6%
	43,064	Mercury Systems, Inc.^(a)	$	1,574,850
	22,431	Moog, Inc., Class A		3,247,561
				4,822,411
		BANKING - 15.0%
	95,144	Atlantic Union Bankshares Corporation		3,476,562
	40,392	Banner Corporation		2,163,396
	29,571	City Holding Company		3,260,498
	94,772	First Bancorp		3,507,512
	48,180	National Bank Holdings Corporation, Class A		1,791,814
	98,660	Provident Financial Services, Inc.		1,778,840
	98,742	Renasant Corporation		3,325,631
	117,585	Seacoast Banking Corporation of Florida		3,346,469
	44,159	Triumph Financial, Inc.^(a)		3,540,668
	74,099	Veritex Holdings, Inc.		1,724,284
				27,915,674
		BIOTECH & PHARMA - 1.7%
	52,156	Prestige Consumer Healthcare, Inc.^(a)		3,192,990

		CHEMICALS - 4.7%
	40,015	Avient Corporation		1,663,424
	185,765	Ecovyst, Inc.^(a)		1,814,924
	15,172	Innospec, Inc.		1,869,797
	36,326	Stepan Company		3,434,623
				8,782,768
		COMMERCIAL SUPPORT SERVICES - 0.8%
	136,303	Legalzoom.com, Inc.^(a)		1,540,224

		CONSTRUCTION MATERIALS - 0.9%
	44,729	Summit Materials, Inc., Class A^(a)		1,720,277

		ELECTRIC UTILITIES - 3.4%
	90,801	Avista Corporation		3,245,227
	61,467	NorthWestern Corporation		3,128,056
				6,373,283

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 88.0% (Continued)
		ENGINEERING & CONSTRUCTION - 0.9%
	7,764	Comfort Systems USA, Inc.	$	1,596,822

		FOOD - 1.8%
	20,042	J & J Snack Foods Corporation		3,349,820

		FORESTRY, PAPER & WOOD PRODUCTS - 1.8%
	26,145	Boise Cascade Company		3,382,117

		HEALTH CARE FACILITIES & SERVICES - 1.9%
	122,904	Patterson Companies, Inc.		3,496,619

		HOME CONSTRUCTION - 2.8%
	20,729	Century Communities, Inc.		1,889,241
	40,764	Masonite International Corporation^(a)		3,451,080
				5,340,321
		HOUSEHOLD PRODUCTS - 0.9%
	39,006	Central Garden & Pet Company, Class A^(a)		1,717,824

		INDUSTRIAL INTERMEDIATE PROD - 0.9%
	29,841	AZZ, Inc.		1,733,464

		INSTITUTIONAL FINANCIAL SERVICES - 3.5%
	56,971	Moelis & Co., Class A		3,197,782
	19,167	Piper Sandler Cos		3,351,734
				6,549,516
		INSURANCE - 2.8%
	37,225	AMERISAFE, Inc.		1,741,386
	146,772	BRP Group, Inc., Class A^(a)		3,525,463
				5,266,849
		LEISURE FACILITIES & SERVICES - 2.6%
	42,955	Chuy’s Holdings, Inc.^(a)		1,642,170
	43,069	Papa John’s International, Inc.		3,283,150
				4,925,320

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 88.0% (Continued)
		MACHINERY - 5.5%
	16,352	Alamo Group, Inc.	$	3,437,027
	34,680	Albany International Corporation, Class A		3,406,270
	42,529	Federal Signal Corporation		3,263,675
				10,106,972
		MEDICAL EQUIPMENT & DEVICES - 4.5%
	111,763	Avanos Medical, Inc.^(a)		2,506,844
	28,904	CONMED Corporation		3,165,277
	38,347	Merit Medical Systems, Inc.^(a)		2,912,838
				8,584,959
		METALS & MINING - 2.7%
	87,359	Constellium S.E.^(a)		1,743,686
	15,880	Encore Wire Corporation		3,391,968
				5,135,654
		OFFICE REIT - 2.6%
	126,820	COPT Defense Properties		3,250,397
	128,214	Easterly Government Properties, Inc.		1,723,196
				4,973,593
		OIL & GAS PRODUCERS - 6.6%
	217,271	Enerplus Corporation		3,332,937
	87,439	Northern Oil and Gas, Inc.		3,241,364
	140,685	Sitio Royalties Corporation, Class A		3,307,504
	64,803	SM Energy Company		2,509,172
				12,390,977
		OIL & GAS SERVICES & EQUIPMENT - 0.9%
	17,465	Weatherford International plc^(a)		1,708,601

		REAL ESTATE INVESTMENT TRUSTS - 6.4%
	134,816	Plymouth Industrial REIT, Inc.		3,245,021
	68,538	PotlatchDeltic Corporation		3,365,216
	261,884	Summit Hotel Properties, Inc.		1,759,860
	189,629	Urban Edge Properties		3,470,211
				11,840,308
		RETAIL - DISCRETIONARY - 3.7%
	52,205	Academy Sports & Outdoors, Inc.		3,445,530

TIMOTHY PLAN SMALL CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 88.0% (Continued)
		RETAIL - DISCRETIONARY - 3.7% (Continued)
	8,657	Boot Barn Holdings, Inc.^(a)	$	664,511
	31,101	Monro, Inc.		912,503
	32,560	Sonic Automotive, Inc., Class A		1,830,198
				6,852,742
		RETAIL REIT - 1.7%
	127,517	Four Corners Property Trust, Inc.		3,226,180

		TECHNOLOGY HARDWARE - 1.9%
	353,074	Viavi Solutions, Inc.^(a)		3,555,455

		TELECOMMUNICATIONS - 0.9%
	22,531	Cogent Communications Holdings, Inc.		1,713,708

		TRANSPORTATION & LOGISTICS - 1.6%
	25,458	ArcBest Corporation		3,060,306

		TOTAL COMMON STOCKS (Cost $148,644,304)		164,855,754

		EXCHANGE-TRADED FUNDS — 10.9%
		EQUITY - 10.9%
	580,000	Timothy Plan US Small Cap Core ETF^(b) (Cost $14,834,080)		20,520,400

		SHORT-TERM INVESTMENTS — 1.5%
		MONEY MARKET FUNDS - 1.5%
	2,756,529	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $2,756,529)^(c)		2,756,529

		TOTAL INVESTMENTS - 100.4% (Cost $166,234,913)	$	188,132,683
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.4)%		(666,460	)
		NET ASSETS - 100.0%	$	187,466,223

ETF	- Exchange-Traded Fund

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

S.E	- Societas Europea

^(a)	Non-income producing security.

^(b)	Investment in affiliate.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 78.8%
		AEROSPACE & DEFENSE - 1.8%
	21,813	General Dynamics Corporation	$	5,664,182

		BANKING - 3.4%
	61,433	BOK Financial Corporation		5,261,736
	47,794	Cullen/Frost Bankers, Inc.		5,185,171
				10,446,907
		CHEMICALS - 2.3%
	22,268	Sherwin-Williams Company (The)		6,945,389

		COMMERCIAL SUPPORT SERVICES - 1.9%
	39,871	Waste Connections, Inc.		5,951,544

		CONTAINERS & PACKAGING - 1.6%
	55,114	Crown Holdings, Inc.		5,075,448

		DIVERSIFIED INDUSTRIALS - 2.6%
	32,487	Eaton Corporation PLC		7,823,519

		ELECTRIC UTILITIES - 3.5%
	89,542	CMS Energy Corporation		5,199,704
	66,304	WEC Energy Group, Inc.		5,580,808
				10,780,512
		FOOD - 3.7%
	45,194	J M Smucker Company (The)		5,711,618
	83,359	McCormick & Company, Inc.		5,703,423
				11,415,041
		HEALTH CARE FACILITIES & SERVICES - 1.7%
	19,366	HCA Healthcare, Inc.		5,241,989

		INSTITUTIONAL FINANCIAL SERVICES - 2.1%
	51,569	Intercontinental Exchange, Inc.		6,623,007

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 78.8% (Continued)
		INSURANCE - 2.2%
	30,074	Arthur J Gallagher & Company	$	6,763,041

		LEISURE FACILITIES & SERVICES - 4.6%
	2,812	Chipotle Mexican Grill, Inc.^(a)		6,430,932
	18,731	Domino’s Pizza, Inc.		7,721,480
				14,152,412
		MEDICAL EQUIPMENT & DEVICES - 6.0%
	28,024	Danaher Corporation		6,483,072
	65,307	Revvity, Inc.		7,138,708
	23,046	STERIS plc		5,066,663
				18,688,443
		OIL & GAS PRODUCERS - 3.9%
	54,647	ConocoPhillips		6,342,877
	48,266	EOG Resources, Inc.		5,837,773
				12,180,650
		REAL ESTATE INVESTMENT TRUSTS - 4.2%
	49,812	Crown Castle, Inc.		5,737,844
	54,075	Prologis, Inc.		7,208,198
				12,946,042
		RETAIL - CONSUMER STAPLES - 4.3%
	9,508	Costco Wholesale Corporation		6,276,041
	51,036	Dollar General Corporation		6,938,343
				13,214,384
		RETAIL - DISCRETIONARY - 6.5%
	28,619	Lowe’s Companies, Inc.		6,369,158
	8,006	O’Reilly Automotive, Inc.^(a)		7,606,341
	28,837	Tractor Supply Company		6,200,820
				20,176,319
		SEMICONDUCTORS - 11.8%
	7,708	Broadcom, Inc.		8,604,056
	79,794	Lattice Semiconductor Corporation^(a)		5,504,988
	75,189	Microchip Technology, Inc.		6,780,544
	12,515	Monolithic Power Systems, Inc.		7,894,212

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 78.8% (Continued)
		SEMICONDUCTORS - 11.8% (Continued)
	15,678	NVIDIA Corporation	$	7,764,059
				36,547,859
		SOFTWARE - 6.1%
	24,878	Cadence Design Systems, Inc.^(a)		6,776,022
	11,229	Synopsys, Inc.^(a)		5,781,924
	14,719	Tyler Technologies, Inc.^(a)		6,154,308
				18,712,254
		TECHNOLOGY SERVICES - 2.1%
	20,120	CACI International, Inc., Class A^(a)		6,516,063

		TRANSPORTATION & LOGISTICS - 2.5%
	31,118	Union Pacific Corporation		7,643,203

		TOTAL COMMON STOCKS (Cost $175,008,302)		243,508,208

		EXCHANGE-TRADED FUNDS — 16.9%
		EQUITY - 16.9%
	573,000	Timothy Plan High Dividend Stock Enhanced ETF^(b)		12,959,255
	382,500	Timothy Plan High Dividend Stock ETF^(b)		12,666,908
	634,000	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(b)		14,448,797
	318,000	Timothy Plan US Large/Mid Cap Core ETF^(b)		12,151,352
		TOTAL EXCHANGE-TRADED FUNDS (Cost $48,945,129)		52,226,312

TIMOTHY PLAN LARGE/MID CAP VALUE FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 4.3%
		MONEY MARKET FUNDS - 4.3%
	13,402,344	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $13,402,344)^(c)	$	13,402,344

		TOTAL INVESTMENTS - 100.0% (Cost $237,355,775)	$	309,136,864
		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(63,178	)
		NET ASSETS - 100.0%	$	309,073,686

ETF	- Exchange-Traded Fund

PLC	- Public Limited Company

^(a)	Non-income producing security.

^(b)	Investment in affiliate.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 29.9%
		CHEMICALS — 2.1%
	1,570,000	Nutrien Ltd.	4.0000	12/15/26	$	1,535,565
	805,000	Nutrien Ltd.	2.9500	05/13/30		728,414
						2,263,979
		COMMERCIAL SUPPORT SERVICES — 0.8%
	450,000	Republic Services, Inc.	5.0000	04/01/34		461,920
	450,000	Waste Management, Inc.	4.6250	02/15/33		452,541
						914,461
		ELECTRIC UTILITIES — 4.5%
	2,205,000	American Electric Power Company, Inc.	3.2000	11/13/27		2,102,206
	1,000,000	Electricite de France S.A.^(a)	5.7000	05/23/28		1,036,435
	855,000	National Rural Utilities Cooperative Finance	2.9500	02/07/24		852,482
	405,000	National Rural Utilities Cooperative Finance	5.0500	09/15/28		415,822
	442,000	WEC Energy Group, Inc.	3.5500	06/15/25		430,328
						4,837,273
		GAS & WATER UTILITIES — 1.9%
	2,185,000	NiSource, Inc.	3.4900	05/15/27		2,107,125

		INSTITUTIONAL FINANCIAL SERVICES — 0.9%
	1,000,000	Cboe Global Markets, Inc.	3.6500	01/12/27		971,234

		MACHINERY — 1.6%
	900,000	Caterpillar Financial Services Corporation	4.3500	05/15/26		898,788
	900,000	John Deere Capital Corporation	3.9000	06/07/32		869,687
						1,768,475
		METALS & MINING — 1.8%
	1,430,000	BHP Billiton Finance USA Ltd.	5.2500	09/08/33		1,487,004
	450,000	Rio Tinto Finance USA plc	5.0000	03/09/33		469,189
						1,956,193
		OIL & GAS PRODUCERS — 7.1%
	1,815,000	Columbia Pipelines Holding Company, LLC^(a)	6.0420	08/15/28		1,876,415
	1,980,000	Energy Transfer Operating, L.P.	6.2500	04/15/49		2,056,959
	1,125,000	Energy Transfer, L.P.	5.7500	02/15/33		1,162,123
	450,000	Enterprise Products Operating, LLC	5.3500	01/31/33		472,095

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 29.9% (Continued)
		OIL & GAS PRODUCERS — 7.1% (Continued)
	2,240,000	Phillips 66 Company	3.6050	02/15/25	$	2,202,625
						7,770,217
		REAL ESTATE INVESTMENT TRUSTS — 3.2%
	1,520,000	Digital Realty Trust, L.P.	3.7000	08/15/27		1,467,669
	2,200,000	Healthpeak Properties, Inc.	3.5000	07/15/29		2,056,306
						3,523,975
		RETAIL - CONSUMER STAPLES — 1.4%
	1,575,000	Dollar General Corporation	4.1250	05/01/28		1,545,546

		RETAIL - DISCRETIONARY — 1.7%
	1,795,000	Tractor Supply Company	5.2500	05/15/33		1,841,298

		TRANSPORTATION & LOGISTICS — 2.9%
	1,000,000	Canadian Pacific Railway Company	2.9000	02/01/25		976,623
	2,190,000	CSX Corporation	3.2500	06/01/27		2,112,678
						3,089,301

		TOTAL CORPORATE BONDS (Cost $33,223,127)				32,589,077

		NON U.S. GOVERNMENT & AGENCIES — 2.0%
		LOCAL AUTHORITY — 2.0%
	2,235,000	Province of Ontario Canada (Cost $2,285,285)	2.5000	04/27/26		2,145,586

		U.S. GOVERNMENT & AGENCIES — 66.7%
		AGENCY FIXED RATE — 36.8%
	1,209,045	Fannie Mae Pool FM5537	2.0000	01/01/36		1,093,159
	909,528	Fannie Mae Pool MA4316	2.5000	04/01/36		838,535
	670,354	Fannie Mae Pool MA4366	2.5000	06/01/41		597,641
	395,369	Fannie Mae Pool MA4475	2.5000	10/01/41		350,921
	1,144,760	Fannie Mae Pool MA4617	3.0000	04/01/42		1,047,270

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 66.7% (Continued)
		AGENCY FIXED RATE — 36.8% (Continued)
	930,654	Fannie Mae Pool FM4053	2.5000	08/01/50	$	804,081
	1,250,045	Fannie Mae Pool CA8897	3.0000	02/01/51		1,120,350
	818,145	Fannie Mae Pool MA4258	3.5000	02/01/51		762,553
	435,083	Fannie Mae Pool FM6550	2.0000	03/01/51		362,211
	793,525	Fannie Mae Pool CB0855	3.0000	06/01/51		704,624
	1,461,052	Fannie Mae Pool FS3744	2.0000	07/01/51		1,201,538
	486,086	Fannie Mae Pool FS1807	3.5000	07/01/51		453,183
	1,342,936	Fannie Mae Pool FS6141	2.0000	01/01/52		1,107,913
	926,126	Fannie Mae Pool CB3486	3.5000	05/01/52		851,180
	504,797	Fannie Mae Pool FS1704	4.0000	05/01/52		482,992
	847,792	Fannie Mae Pool BV9960	4.0000	06/01/52		806,600
	1,705,701	Fannie Mae Pool FS3392	4.0000	09/01/52		1,616,133
	877,141	Fannie Mae Pool FS3159	4.5000	10/01/52		854,865
	864,996	Fannie Mae Pool FS4075	5.0000	04/01/53		862,190
	871,333	Fannie Mae Pool FS5044	4.5000	06/01/53		851,026
	1,004,508	Fannie Mae Pool FS5850	6.0000	09/01/53		1,021,831
	56,591	Ginnie Mae I Pool 723248	5.0000	10/15/39		57,172
	232,676	Ginnie Mae I Pool 783060	4.0000	08/15/40		226,342
	128,113	Ginnie Mae I Pool 783403	3.5000	09/15/41		120,901
	99,787	Ginnie Mae II Pool 4520	5.0000	08/20/39		101,783
	134,062	Ginnie Mae II Pool 4947	5.0000	02/20/41		135,731
	238,542	Ginnie Mae II Pool MA3376	3.5000	01/20/46		225,563
	152,502	Ginnie Mae II Pool MA3596	3.0000	04/20/46		140,488
	407,533	Ginnie Mae II Pool MA3663	3.5000	05/20/46		384,679
	146,550	Ginnie Mae II Pool MA3736	3.5000	06/20/46		138,311
	250,635	Ginnie Mae II Pool MA4004	3.5000	10/20/46		236,488
	168,913	Ginnie Mae II Pool MA4509	3.0000	06/20/47		155,239
	202,603	Ginnie Mae II Pool MA4652	3.5000	08/20/47		191,029
	249,002	Ginnie Mae II Pool MA4719	3.5000	09/20/47		234,759
	255,522	Ginnie Mae II Pool MA4778	3.5000	10/20/47		240,886
	204,089	Ginnie Mae II Pool MA4901	4.0000	12/20/47		196,880
	174,657	Ginnie Mae II Pool MA4963	4.0000	01/20/48		168,809
	168,196	Ginnie Mae II Pool MA6092	4.5000	08/20/49		165,475
	180,341	Ginnie Mae II Pool MA6156	4.5000	09/20/49		177,581

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 66.7% (Continued)
		AGENCY FIXED RATE — 36.8% (Continued)
	621,561	Ginnie Mae II Pool BN2662	3.0000	10/20/49	$	564,097
	165,775	Ginnie Mae II Pool MA6221	4.5000	10/20/49		163,953
	168,534	Ginnie Mae II Pool MA6477	4.5000	02/20/50		166,654
	261,204	Ginnie Mae II Pool MA6478	5.0000	02/20/50		263,703
	272,352	Ginnie Mae II Pool MA6544	4.5000	03/20/50		269,245
	188,577	Ginnie Mae II Pool MA6545	5.0000	03/20/50		190,431
	1,076,345	Ginnie Mae II Pool MA6598	2.5000	04/20/50		946,351
	270,446	Ginnie Mae II Pool MA6600	3.5000	04/20/50		254,444
	228,945	Ginnie Mae II Pool MA6601	4.0000	04/20/50		220,955
	207,902	Ginnie Mae II Pool MA6603	5.0000	04/20/50		209,890
	964,284	Ginnie Mae II Pool MA7255	2.5000	03/20/51		844,621
	712,168	Ginnie Mae II Pool MA7418	2.5000	06/20/51		623,886
	1,191,857	Ginnie Mae II Pool MA7419	3.0000	06/20/51		1,083,375
	1,076,252	Ginnie Mae II Pool MA7472	2.5000	07/20/51		943,283
	1,247,527	Ginnie Mae II Pool CE1974	3.0000	08/20/51		1,144,394
	1,071,713	Ginnie Mae II Pool CE1990	2.5000	09/20/51		937,655
	1,261,076	Ginnie Mae II Pool MA7705	2.5000	11/20/51		1,104,436
	1,015,911	Ginnie Mae II Pool MA7768	3.0000	12/20/51		920,997
	1,035,951	Ginnie Mae II Pool MA7829	3.5000	01/20/52		965,263
	1,019,394	Ginnie Mae II Pool MA7939	4.0000	03/20/52		973,725
	1,125,305	Ginnie Mae II Pool MA7987	2.5000	04/20/52		985,253
	1,110,390	Ginnie Mae II Pool MA8098	3.0000	06/20/52		1,006,534
	1,084,594	Ginnie Mae II Pool MA8268	4.5000	09/20/52		1,059,702
	1,001,135	Ginnie Mae II Pool MA8800	5.0000	04/20/53		995,864
	1,209,660	Ginnie Mae II Pool MA8943	3.0000	06/20/53		1,099,056
	1,047,585	Ginnie Mae II Pool MA9017	5.5000	07/20/53		1,054,971
		TOTAL AGENCY FIXED RATE (Cost $43,247,036)				40,081,650

		U.S. TREASURY NOTES — 29.9%
	700,000	United States Treasury Note	2.2500	11/15/24		684,361
	1,525,000	United States Treasury Note	2.0000	08/15/25		1,467,991
	3,530,000	United States Treasury Note	0.6250	07/31/26		3,234,845
	6,325,000	United States Treasury Note	1.2500	09/30/28		5,612,079
	3,015,000	United States Treasury Note	1.2500	08/15/31		2,499,918

TIMOTHY PLAN FIXED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 66.7% (Continued)
		U.S. TREASURY NOTES — 29.9% (Continued)
	7,810,000	United States Treasury Note	3.5000	02/15/33		7,589,886
	5,215,000	United States Treasury Note	1.7500	08/15/41		3,643,065
	2,570,000	United States Treasury Note	2.0000	08/15/51		1,687,717
	6,635,000	United States Treasury Note	3.6250	02/15/53		6,157,720
		TOTAL U.S. TREASURY NOTES (Cost $34,621,565)				32,577,582

		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $77,868,601)				72,659,232

Shares
		SHORT-TERM INVESTMENTS — 0.7%
		MONEY MARKET FUNDS - 0.7%
	845,961	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $845,961)^(b)				845,961

		TOTAL INVESTMENTS - 99.3% (Cost $114,222,974)			$	108,239,856
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.7%				734,963
		NET ASSETS - 100.0%			$	108,974,819

LLC	- Limited Liability Company

LP	- Limited Partnership

LTD	- Limited Company

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

S.A.	- Société Anonyme

^(a)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is 2,912,850 or 2.7% of net assets.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 91.3%
		AEROSPACE & DEFENSE — 0.7%
	1,250,000	TransDigm, Inc.^(a)		6.8750	12/15/30	$	1,288,319

		ASSET MANAGEMENT — 1.5%
	1,600,000	AG TTMT Escrow Issuer, LLC^(a)		8.6250	09/30/27		1,683,845
	1,000,000	NFP Corporation^(a)		8.5000	10/01/31		1,083,226
							2,767,071
		AUTOMOTIVE — 3.7%
	2,250,000	Adient Global Holdings Ltd.^(a)		8.2500	04/15/31		2,383,958
	2,000,000	Goodyear Tire & Rubber Company (The)		5.6250	04/30/33		1,795,665
	3,000,000	Tenneco, Inc.^(a)		8.0000	11/17/28		2,563,981
							6,743,604
		BIOTECH & PHARMA — 0.3%
	439,000	Bausch Health Americas, Inc.^(a)		8.5000	01/31/27		244,329
	579,000	Emergent BioSolutions, Inc.^(a)		3.8750	08/15/28		237,514
							481,843
		CHEMICALS — 6.0%
	2,000,000	Avient Corporation^(a)		7.1250	08/01/30		2,083,018
	1,500,000	Axalta Coating Systems Dutch Holding B BV^(a)		7.2500	02/15/31		1,580,625
	2,500,000	Axalta Coating Systems LLC^(a)		3.3750	02/15/29		2,248,006
	3,000,000	Chemours Company (The)^(a)		4.6250	11/15/29		2,636,674
	2,000,000	Polar US Borrower, LLC / Schenectady International^(a)		6.7500	05/15/26		651,920
	1,750,000	WR Grace Holdings, LLC^(a)		7.3750	03/01/31		1,753,325
							10,953,568
		COMMERCIAL SUPPORT SERVICES — 8.6%
	125,000	Atlas LuxCompany 4 S.A.RL / Allied Universal^(a)		4.6250	06/01/28		114,388
	1,625,000	Clean Harbors, Inc.^(a)		6.3750	02/01/31		1,654,097
	2,250,000	Covanta Holding Corporation		5.0000	09/01/30		1,920,004
	1,625,000	Covert Mergeco, Inc.^(a)		4.8750	12/01/29		1,421,680
	3,300,000	GFL Environmental Inc^(a)		4.0000	08/01/28		3,052,845
	500,000	GFL Environmental, Inc.^(a)		6.7500	01/15/31		515,862
	3,255,000	Harsco Corporation^(a)		5.7500	07/31/27		3,038,728
	2,200,000	Waste Pro USA, Inc.^(a)		5.5000	02/15/26		2,119,986
	1,750,000	Williams Scotsman, Inc.^(a)		7.3750	10/01/31		1,837,131
							15,674,721

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 91.3% (Continued)
		CONSTRUCTION MATERIALS — 0.5%
	500,000	Cemex S.A.B. de C.V.^(a)		5.2000	09/17/30	$	482,128
	500,000	Cemex S.A.B. de C.V.^(a)		3.8750	07/11/31		447,663
							929,791
		CONSUMER SERVICES — 2.0%
	2,500,000	PROG Holdings, Inc.^(a)		6.0000	11/15/29		2,306,987
	1,500,000	Rent-A-Center, Inc.^(a)		6.3750	02/15/29		1,409,348
							3,716,335
		CONTAINERS & PACKAGING — 9.7%
	875,000	Ardagh Metal Packaging Finance USA, LLC / Ardagh^(a)		6.0000	06/15/27		872,249
	2,000,000	Ardagh Metal Packaging Finance USA, LLC / Ardagh^(a)		4.0000	09/01/29		1,697,002
	1,750,000	Canpack S.A. / Canpack US, LLC^(a)		3.8750	11/15/29		1,501,999
	2,000,000	Graham Packaging Company, Inc.^(a)		7.1250	08/15/28		1,802,410
	1,250,000	Graphic Packaging International, LLC^(a)		3.7500	02/01/30		1,126,694
	1,250,000	LABL, Inc.^(a)		5.8750	11/01/28		1,136,719
	625,000	LABL, Inc.^(a)		9.5000	11/01/28		632,031
	1,000,000	LABL, Inc.^(a)		8.2500	11/01/29		844,375
	3,300,000	Mauser Packaging Solutions Holding Company^(a)		7.8750	08/15/26		3,361,031
	3,500,000	Pactiv Evergreen Group Issuer, LLC / Pactiv^(a)		4.3750	10/15/28		3,264,376
	1,750,000	TriMas Corporation^(a)		4.1250	04/15/29		1,574,453
							17,813,339
		ELECTRIC UTILITIES — 1.2%
	2,000,000	Vistra Corporation^(a),(b)	H15T5Y + 5.740%	7.0000	06/15/70		1,972,740
	250,000	Vistra Operations Company, LLC^(a)		4.3750	05/01/29		233,596
							2,206,336
		ELECTRICAL EQUIPMENT — 0.5%
	500,000	BWX Technologies, Inc.^(a)		4.1250	06/30/28		464,147
	500,000	BWX Technologies, Inc.^(a)		4.1250	04/15/29		456,793
							920,940
		ENGINEERING & CONSTRUCTION — 1.1%
	2,194,000	Dycom Industries, Inc.^(a)		4.5000	04/15/29		2,038,444

		FOOD — 0.9%
	1,600,000	Darling Ingredients, Inc.^(a)		6.0000	06/15/30		1,602,123

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 91.3% (Continued)
		FORESTRY, PAPER & WOOD PRODUCTS — 0.5%
	1,000,000	Schweitzer-Mauduit International, Inc.^(a)		6.8750	10/01/26	$	960,362

		HEALTH CARE FACILITIES & SERVICES — 4.1%
	1,000,000	Catalent Pharma Solutions, Inc.^(a)		3.1250	02/15/29		876,250
	500,000	Heartland Dental, LLC / Heartland Dental Finance^(a)		10.5000	04/30/28		519,395
	250,000	LifePoint Health, Inc.^(a)		5.3750	01/15/29		185,529
	2,000,000	LifePoint Health, Inc.^(a)		9.8750	08/15/30		2,023,259
	625,000	LifePoint Health, Inc.^(a)		11.0000	10/15/30		659,116
	1,250,000	MEDNAX, Inc.^(a)		5.3750	02/15/30		1,114,266
	500,000	Star Parent, Inc.^(a)		9.0000	10/01/30		527,596
	1,750,000	Tenet Healthcare Corporation		6.1250	10/01/28		1,746,588
							7,651,999
		HOME CONSTRUCTION — 4.3%
	500,000	Ashton Woods USA, LLC / Ashton Woods Finance^(a)		6.6250	01/15/28		487,697
	1,250,000	Ashton Woods USA, LLC / Ashton Woods Finance^(a)		4.6250	08/01/29		1,113,041
	500,000	Ashton Woods USA, LLC / Ashton Woods Finance^(a)		4.6250	04/01/30		446,694
	3,042,000	Interface Inc^(a)		5.5000	12/01/28		2,816,050
	1,650,000	STL Holding Company, LLC^(a)		7.5000	02/15/26		1,608,750
	1,523,000	Weekley Homes, LLC / Weekley Finance Corporation^(a)		4.8750	09/15/28		1,419,404
							7,891,636
		HOUSEHOLD PRODUCTS — 1.1%
	2,050,000	Energizer Holdings, Inc.^(a)		6.5000	12/31/27		2,052,114

		INDUSTRIAL SUPPORT SERVICES — 0.9%
	1,500,000	Ashtead Capital, Inc.^(a)		2.4500	08/12/31		1,224,589
	500,000	BCPE Empire Holdings, Inc.^(a)		7.6250	05/01/27		483,000
							1,707,589
		INSTITUTIONAL FINANCIAL SERVICES — 1.6%
	1,250,000	Aretec Escrow Issuer 2, Inc.^(a)		10.0000	08/15/30		1,329,875
	1,750,000	LPL Holdings, Inc.^(a)		4.0000	03/15/29		1,619,690
							2,949,565
		INSURANCE — 0.4%
	750,000	HUB International Ltd.^(a)		7.2500	06/15/30		792,679

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 91.3% (Continued)
		LEISURE FACILITIES & SERVICES — 1.3%
	1,000,000	Brinker International, Inc.^(a)		8.2500	07/15/30	$	1,047,070
	1,250,000	Raising Cane’s Restaurants, LLC^(a)		9.3750	05/01/29		1,335,603
							2,382,673
		MACHINERY — 0.3%
	500,000	Redwood Star Merger Sub, Inc.^(a)		8.7500	04/01/30		500,575

		MEDICAL EQUIPMENT & DEVICES — 1.7%
	750,000	Bausch & Lomb Escrow Corporation^(a)		8.3750	10/01/28		792,143
	1,000,000	Mozart Debt Merger Sub, Inc.^(a)		3.8750	04/01/29		905,212
	1,500,000	Mozart Debt Merger Sub, Inc.^(a)		5.2500	10/01/29		1,415,568
							3,112,923
		METALS & MINING — 1.4%
	750,000	Arsenal AIC Parent, LLC^(a)		8.0000	10/01/30		783,458
	2,000,000	Kaiser Aluminum Corporation^(a)		4.5000	06/01/31		1,727,315
							2,510,773
		OIL & GAS PRODUCERS — 7.1%
	1,250,000	Colgate Energy Partners III, LLC^(a)		5.8750	07/01/29		1,220,331
	2,822,000	CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC^(a)		5.5000	06/15/31		2,677,584
	1,000,000	CQP Holdco, L.P. / BIP-V Chinook Holdco, LLC		7.5000	12/15/33		1,037,778
	500,000	Crestwood Midstream Partners, L.P. / Crestwood		5.7500	04/01/25		500,513
	1,500,000	Crestwood Midstream Partners, L.P. / Crestwood^(a)		5.6250	05/01/27		1,495,875
	500,000	Genesis Energy, L.P. / Genesis Energy Finance		7.7500	02/01/28		502,254
	100,000	Genesis Energy, L.P. / Genesis Energy Finance		8.2500	01/15/29		102,865
	750,000	Genesis Energy, L.P. / Genesis Energy Finance		8.8750	04/15/30		776,048
	1,500,000	Global Partners, L.P. / GLP Finance Corporation		7.0000	08/01/27		1,467,930
	1,250,000	ITT Holdings, LLC^(a)		6.5000	08/01/29		1,107,081
	2,000,000	NuStar Logistics, L.P.		5.6250	04/28/27		1,993,270
	100,000	Permian Resources Operating, LLC^(a)		7.0000	01/15/32		103,146
							12,984,675
		PUBLISHING & BROADCASTING — 0.3%
	750,000	Gray Television, Inc.^(a)		4.7500	10/15/30		565,632

		REAL ESTATE INVESTMENT TRUSTS — 1.4%
	1,500,000	Diversified Healthcare Trust		9.7500	06/15/25		1,473,803

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 91.3% (Continued)
		REAL ESTATE INVESTMENT TRUSTS — 1.4% (Continued)
	750,000	Service Properties Trust		5.5000	12/15/27	$	687,417
	375,000	Service Properties Trust^(a)		8.6250	11/15/31		393,182
							2,554,402
		REAL ESTATE OWNERS & DEVELOPERS — 2.2%
	1,000,000	Greystar Real Estate Partners, LLC^(a)		7.7500	09/01/30		1,048,850
	3,499,000	Howard Hughes Corporation (The)^(a)		4.3750	02/01/31		3,040,754
							4,089,604
		RETAIL - CONSUMER STAPLES — 0.6%
	1,250,000	Ingles Markets, Inc.^(a)		4.0000	06/15/31		1,104,506

		RETAIL - DISCRETIONARY — 4.8%
	2,550,000	Beacon Roofing Supply, Inc.^(a)		4.1250	05/15/29		2,320,228
	3,162,000	Ken Garff Automotive, LLC^(a)		4.8750	09/15/28		3,005,452
	1,500,000	Lithia Motors, Inc.^(a)		3.8750	06/01/29		1,356,283
	750,000	Lithia Motors, Inc.^(a)		4.3750	01/15/31		682,391
	1,550,000	Sonic Automotive, Inc.^(a)		4.8750	11/15/31		1,383,360
							8,747,714
		SEMICONDUCTORS — 1.2%
	2,250,000	Entegris Escrow Corporation^(a)		4.7500	04/15/29		2,169,470

		SOFTWARE — 0.6%
	1,250,000	Crowdstrike Holdings, Inc.		3.0000	02/15/29		1,131,574

		SPECIALTY FINANCE — 12.9%
	2,500,000	Air Lease Corporation^(b)	H15T5Y + 4.076%	4.6500	06/15/70		2,250,300
	1,500,000	Bread Financial Holdings, Inc.^(a)		7.0000	01/15/26		1,492,245
	250,000	Bread Financial Holdings, Inc.^(a)		9.7500	03/15/29		258,386
	1,000,000	Burford Capital Global Finance, LLC^(a)		6.2500	04/15/28		960,978
	3,000,000	Burford Capital Global Finance, LLC^(a)		9.2500	07/01/31		3,192,150
	1,000,000	Freedom Mortgage Corporation^(a)		6.6250	01/15/27		953,932
	1,000,000	Freedom Mortgage Corporation^(a)		12.0000	10/01/28		1,092,917
	2,955,000	ILFC E-Capital Trust I^(a),(b)	TSFRM3M + 1.812%	7.1860	12/21/65		2,199,643
	1,500,000	ILFC E-Capital Trust II^(a),(b)	TSFRM3M + 2.062%	7.4360	12/21/65		1,168,307
	1,250,000	Ladder Capital Finance Holdings LLLP ^(a)		4.2500	02/01/27		1,178,905

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 91.3% (Continued)
		SPECIALTY FINANCE — 12.9% (Continued)
	500,000	Nationstar Mortgage Holdings, Inc.^(a)		6.0000	01/15/27	$	496,765
	1,250,000	Nationstar Mortgage Holdings, Inc.^(a)		5.5000	08/15/28		1,205,869
	1,750,000	Nationstar Mortgage Holdings, Inc.^(a)		5.7500	11/15/31		1,634,369
	1,500,000	OneMain Finance Corporation		9.0000	01/15/29		1,587,980
	500,000	OneMain Finance Corporation		7.8750	03/15/30		515,190
	3,500,000	Rithm Capital Corporation^(a)		6.2500	10/15/25		3,449,145
							23,637,081
		STEEL — 1.8%
	1,000,000	Commercial Metals Company		4.3750	03/15/32		899,020
	2,804,000	TMS International Corporation^(a)		6.2500	04/15/29		2,317,099
							3,216,119
		TECHNOLOGY HARDWARE — 1.3%
	550,000	Ciena Corporation^(a)		4.0000	01/31/30		501,520
	1,000,000	CommScope, Inc.^(a)		8.2500	03/01/27		528,910
	750,000	CommScope, Inc.^(a)		7.1250	07/01/28		356,989
	1,000,000	TTM Technologies, Inc.^(a)		4.0000	03/01/29		909,590
							2,297,009
		TECHNOLOGY SERVICES — 1.4%
	250,000	GTCR W-2 Merger Sub, LLC^(a)		7.5000	01/15/31		264,343
	1,750,000	HealthEquity, Inc.^(a)		4.5000	10/01/29		1,627,889
	750,000	VT Topco, Inc.^(a)		8.5000	08/15/30		781,076
							2,673,308
		TRANSPORTATION EQUIPMENT — 0.3%
	625,000	Wabash National Corporation^(a)		4.5000	10/15/28		564,729

		WHOLESALE - CONSUMER STAPLES — 1.1%
	2,500,000	United Natural Foods, Inc.^(a)		6.7500	10/15/28		2,027,150

		TOTAL CORPORATE BONDS (Cost $171,201,659)					167,412,295

TIMOTHY PLAN HIGH YIELD BOND FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Shares			Fair Value
		SHORT-TERM INVESTMENTS — 7.1%
		MONEY MARKET FUNDS - 7.1%
	13,055,815	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $13,055,815)^(c)	$	13,055,815

		TOTAL INVESTMENTS - 98.4% (Cost $184,257,474)	$	180,468,110
		OTHER ASSETS IN EXCESS OF LIABILITIES- 1.6%		2,927,269
		NET ASSETS - 100.0%	$	183,395,379

LLC	- Limited Liability Company

LP	- Limited Partnership

LTD	- Limited Company

REIT	- Real Estate Investment Trust

H15T5Y	US Treasury Yield Curve Rate T Note Constant Maturity 5 Year

TSFRM3M	CME Term SOFR 3 Month

^(a)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is 147,024,096 or 80.2% of net assets.

^(b)	Variable rate security; the rate shown represents the rate on December 31, 2023.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 98.4%
		AEROSPACE & DEFENSE - 5.7%
	18,501	Elbit Systems Ltd.	$	3,945,338
	94,000	Leonardo DRS, Inc.^(a)		1,883,760
				5,829,098
		APPAREL & TEXTILE PRODUCTS - 2.4%
	23,816	Delta Galil Ltd.		1,064,156
	20,000	Fox Wizel Ltd.		1,359,008
				2,423,164
		BANKING - 16.9%
	92,000	Bank Hapoalim BM - ADR		3,985,440
	505,000	Bank Leumi Le-Israel BM		4,067,216
	55,300	First International Bank Of Israel Ltd.		2,261,327
	602,000	Israel Discount Bank Ltd., Class A		3,014,664
	95,000	Mizrahi Tefahot Bank Ltd.		3,679,726
				17,008,373
		BIOTECH & PHARMA - 1.3%
	67,000	Enlight Renewable Energy Ltd.^(a)		1,300,368

		CHEMICALS - 1.7%
	338,902	ICL Group Ltd.		1,697,899

		CONSTRUCTION MATERIALS - 0.6%
	213,000	Inrom Construction Industries Ltd.		624,668

		ELECTRIC UTILITIES - 2.6%
	34,700	Ormat Technologies, Inc.		2,629,940

		ELECTRICAL EQUIPMENT - 1.7%
	24,300	Camtek Ltd.^(a)		1,685,934

		FOOD - 1.3%
	68,000	Strauss Group Ltd.^(a)		1,279,515

		HEALTH CARE FACILITIES & SERVICES - 1.6%
	12,769	Danel Adir Yeoshua Ltd.		1,056,311

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 98.4% (Continued)
		HEALTH CARE FACILITIES & SERVICES - 1.6% (Continued)
	1,575,013	Novolog Ltd.	$	630,110
				1,686,421
		HOME & OFFICE PRODUCTS - 1.3%
	116,585	Maytronics Ltd.		1,323,451

		INSTITUTIONAL FINANCIAL SERVICES - 2.2%
	425,194	Tel Aviv Stock Exchange Ltd.^(a)		2,265,725

		INSURANCE - 4.0%
	132,000	Harel Insurance Investments & Financial Services		1,036,454
	1,048,628	Migdal Insurance & Financial Holdings Ltd.		1,193,574
	182,400	Phoenix Holdings Ltd. (The)		1,849,536
				4,079,564
		INTERNET MEDIA & SERVICES - 1.1%
	38,000	Fiverr International Ltd.^(a)		1,034,360

		LEISURE FACILITIES & SERVICES - 1.4%
	12,800	Fattal Holdings 1998 Ltd.^(a)		1,413,015

		MEDICAL EQUIPMENT & DEVICES - 0.7%
	30,900	Inmode Ltd.^(a)		687,216

		OIL & GAS PRODUCERS - 8.0%
	350,000	Delek Drilling, L.P.		985,779
	104,968	Energean plc		1,397,022
	102,000	Energean plc		1,348,938
	5,600	Israel Corp Ltd. (The)^(a)		1,425,254
	2,350,000	Oil Refineries Ltd.		794,516
	8,000	Paz Ashdod Refinery Ltd.^(a)		178,154
	8,000	Paz Oil Company Ltd. ^(a)		670,872
	1,600,000	Ratio Energies Finance, L.P.		1,320,053
				8,120,588

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 98.4% (Continued)
		REAL ESTATE INVESTMENT TRUSTS - 1.7%
	369,000	Reit 1 Ltd.	$	1,711,056

		REAL ESTATE OWNERS & DEVELOPERS - 10.8%
	62,000	Alony Hetz Properties & Investments Ltd.		507,918
	237,000	Amot Investments Ltd.		1,277,324
	42,000	Azrieli Group Ltd.		2,721,448
	40,000	Elco Ltd.		1,262,727
	160,000	Gav-Yam Lands Corp Ltd.		1,301,904
	24,380	Melisron Ltd.		1,888,630
	643,430	Mivne Real Estate KD Ltd.		1,913,699
				10,873,650
		RENEWABLE ENERGY - 1.4%
	296,360	Energix-Renewable Energies Ltd.		1,089,703
	3,000	SolarEdge Technologies, Inc.^(a)		280,800
				1,370,503
		RETAIL - CONSUMER STAPLES - 2.0%
	18,700	Rami Levy Chain Stores Hashikma Marketing 2006		1,044,063
	210,000	Shufersal Ltd.^(a)		1,002,241
				2,046,304
		SEMICONDUCTORS - 6.5%
	30,000	Nova Ltd.^(a)		4,121,700
	79,223	Tower Semiconductor Ltd.^(a)		2,417,886
				6,539,586
		SOFTWARE - 17.7%
	14,100	CyberArk Software Ltd.^(a)		3,088,605
	29,935	Hilan Ltd.		1,576,093
	48,800	Mobileye Global, Inc., Class A^(a)		2,114,016
	6,500	Monday.com Ltd.^(a)		1,220,765
	22,600	Nice Ltd. - ADR^(a)		4,508,926
	9,100	Oddity Tech Ltd.^(a)		423,423
	41,000	One Software Technologies Ltd.		524,184
	55,300	Sapiens International Corp N.V.		1,600,382
	48,200	Varonis Systems, Inc.^(a)		2,182,496

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 98.4% (Continued)
		SOFTWARE - 17.7% (Continued)
	21,500	Verint Systems, Inc.^(a)	$	581,145
				17,820,035
		TECHNOLOGY HARDWARE - 0.3%
	28,000	AudioCodes Ltd.		337,960

		TECHNOLOGY SERVICES - 1.7%
	72,783	Magic Software Enterprises Ltd.		705,267
	56,210	Matrix IT Ltd.		1,060,625
				1,765,892
		TELECOMMUNICATIONS - 0.5%
	46,000	Cellcom Israel Ltd.^(a)		188,358
	74,000	Partner Communications Company Ltd.^(a)		365,864
				554,222
		WHOLESALE - DISCRETIONARY - 1.3%
	17,300	Tadiran Group Ltd.		1,283,715


		TOTAL COMMON STOCKS (Cost $62,448,103)		99,392,222

		SHORT-TERM INVESTMENTS — 1.5%
		MONEY MARKET FUNDS - 1.5%
	1,520,131	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $1,520,131)^(b)		1,520,131

		TOTAL INVESTMENTS - 99.9% (Cost $63,968,234)	$	100,912,353
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.1%		109,904
		NET ASSETS - 100.0%	$	101,022,257

ADR	- American Depositary Receipt

LP	- Limited Partnership

LTD	- Limited Company

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

^(a)	Non-income producing security.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN ISRAEL COMMON VALUES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Diversification of Assets
Country	% of Net Assets
Israel		88.5	%
United States		7.2	%
United Kingdom		2.7	%
Total		98.4	%
Money Market Funds		1.5	%
Other Assets Less Liabilities - Net		0.1	%
Grand Total		100.0	%

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2%
		CHEMICALS - 1.6%
	375	Albemarle Corporation	$	54,180
	2,778	CF Industries Holdings, Inc.		220,851
	1,853	FMC Corporation		116,832
	6,014	ICL Group Ltd.		30,130
	7,069	K+S A.G.		111,677
	4,962	Mosaic Company (The)		177,292
	5,109	Nutrien Ltd.		287,790
	3,601	OCI N.V.		104,317
	171	Sociedad Quimica y Minera de Chile S.A. - ADR		10,298
	3,087	Yara International ASA		109,752
				1,223,119
		DATA CENTER REIT - 1.0%
	6,000	Digital Realty Trust, Inc.		807,480

		FOOD - 1.2%
	2,563	Adecoagro S.A.		28,449
	545	Cal-Maine Foods, Inc.		31,278
	1,977	Darling Ingredients, Inc.^(a)		98,534
	2,408	Hormel Foods Corporation		77,321
	1,385	Ingredion, Inc.		150,314
	4,300	MEIJI Holdings Company Ltd.		102,143
	2,600	Morinaga Milk Industry Company Ltd.		50,309
	5,082	Mowi ASA		91,040
	1,100	NH Foods Ltd.		37,295
	4,300	Nisshin Seifun Group, Inc.		57,904
	4,700	Nissui Corporation		25,306
	1,279	Pilgrim’s Pride Corporation^(a)		35,377
	841	Salmar ASA		47,118
				832,388
		FORESTRY, PAPER & WOOD PRODUCTS - 0.3%
	2,400	Canfor Corporation^(a)		32,333
	932	Louisiana-Pacific Corporation		66,014
	2,600	Sumitomo Forestry Company Ltd.		77,510

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2% (Continued)
		FORESTRY, PAPER & WOOD PRODUCTS - 0.3% (Continued)
	900	West Fraser Timber Company Ltd.	$	77,001
				252,858
		GAS & WATER UTILITIES - 0.8%
	403	American States Water Company		32,409
	559	American Water Works Company, Inc.		73,782
	910	California Water Service Group		47,202
	8,755	Cia de Saneamento Basico do Estado de Sao Paulo - ADR		133,339
	598	Essential Utilities, Inc.		22,335
	1,154	Severn Trent plc		37,940
	4,078	United Utilities Group plc		55,080
	5,278	Veolia Environnement S.A.		166,417
				568,504
		HEALTH CARE FACILITIES & SERVICES - 0.4%
	48,754	Brookdale Senior Living, Inc.^(a)		283,748

		HEALTH CARE REIT - 0.4%
	18,450	Healthcare Realty Trust, Inc.		317,894

		INDUSTRIAL REIT - 0.5%
	7,000	Rexford Industrial Realty, Inc.		392,700

		MACHINERY - 1.0%
	748	AGCO Corporation		90,815
	7,354	CNH Industrial N.V.		89,572
	746	Deere & Company		298,303
	10,900	Kubota Corporation		164,097
	1,700	Kurita Water Industries Ltd.		66,560
	840	Weir Group plc (The)		20,201
				729,548
		METALS & MINING - 4.7%
	413	Agnico Eagle Mines Ltd.		22,653
	1,834	Agnico Eagle Mines Ltd.		100,561
	5,121	Alamos Gold, Inc., Class A		68,980
	1,829	Alcoa Corporation		62,186

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2% (Continued)
		METALS & MINING - 4.7% (Continued)
	2,139	Anglo American PLC	$	53,735
	3,813	Anglogold Ashanti plc		71,265
	1,391	Antofagasta plc		29,782
	513	Aurubis A.G.		42,057
	44,540	B2Gold Corporation		140,746
	8,971	Barrick Gold Corporation		162,285
	3,493	BHP Group Ltd. - ADR		238,607
	2,352	Cameco Corporation		101,371
	4,500	Capstone Copper Corporation^(a)		21,906
	8,700	Centerra Gold, Inc.		51,939
	3,247	Cia de Minas Buenaventura S.A.A - ADR		49,484
	964	Cleveland-Cliffs, Inc.^(a)		19,685
	795	Compass Minerals International, Inc.		20,129
	600	Endeavour Mining plc		13,481
	16,100	First Quantum Minerals Ltd.		131,841
	1,264	Franco-Nevada Corporation		140,064
	6,685	Freeport-McMoRan, Inc.		284,580
	9,263	Gold Fields Ltd. - ADR		133,943
	19,422	Hecla Mining Company		93,420
	5,000	Hudbay Minerals, Inc.		27,510
	2,500	Ivanhoe Mines Ltd. ^(a)		24,246
	20,463	Kinross Gold Corp.		123,801
	2,500	Mitsubishi Materials Corporation		43,400
	2,026	MP Materials Corporation^(a)		40,216
	4,573	Newmont Corporation		189,276
	642	Pan American Silver Corporation		10,484
	4,975	Rio Tinto plc - ADR		370,438
	62	Royal Gold, Inc.		7,500
	6,049	Sandstorm Gold Ltd.		30,426
	509	Southern Copper Corporation		43,810
	5,042	SSR Mining, Inc.		54,252
	800	Sumitomo Metal Mining Company Ltd.		24,093
	4,943	Teck Resources Ltd., Class B		208,954
	17,157	Vale S.A. - ADR		272,110

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2%% (Continued)
		METALS & MINING - 4.7% (Continued)
	306	Wheaton Precious Metals Corporation	$	15,098
				3,540,314
		OIL & GAS PRODUCERS - 5.5%
	5,196	Aker BP ASA		151,131
	1,807	APA Corporation		64,835
	6,300	ARC Resources Ltd.		93,527
	14,900	Baytex Energy Corporation		49,255
	3,492	Callon Petroleum Company^(a)		113,141
	946	Canadian Natural Resources Ltd.		61,982
	7,600	Cenovus Energy, Inc.		126,650
	400	Chord Energy Corporation		66,492
	735	Civitas Resources, Inc.		50,259
	549	CNX Resources Corporation^(a)		10,980
	1,127	ConocoPhillips		130,811
	4,962	Coterra Energy, Inc.		126,630
	21,700	Crescent Point Energy Corporation		150,511
	4,251	Devon Energy Corporation		192,570
	1,248	Diamondback Energy, Inc.		193,540
	7,447	Enerplus Corporation		114,237
	1,525	Eni SpA - ADR		51,865
	1,772	EOG Resources, Inc.		214,324
	1,232	EQT Corporation		47,629
	6,311	Equinor ASA - ADR		199,681
	42	Hess Corporation		6,055
	200	Imperial Oil Ltd.		11,393
	8,800	Inpex Corporation		118,875
	1,313	Kosmos Energy Ltd. ^(a)		8,810
	1,380	Magnolia Oil & Gas Corporation, Class A		29,380
	4,038	Marathon Oil Corporation		97,558
	1,615	Matador Resources Company		91,829
	2,900	MEG Energy Corporation^(a)		51,807
	2,759	Murphy Oil Corporation		117,699
	1,901	Occidental Petroleum Corporation		113,509
	255	Ovintiv, Inc.		11,200

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2% (Continued)
		OIL & GAS PRODUCERS - 5.5% (Continued)
	2,000	Parex Resources, Inc.	$	37,661
	7,187	Petroleo Brasileiro S.A. - ADR		114,776
	904	Pioneer Natural Resources Company		203,292
	2,000	PrairieSky Royalty Ltd.		35,020
	546	Range Resources Corporation		16,620
	18,856	Southwestern Energy Company^(a)		123,507
	6,000	Suncor Energy, Inc.		192,231
	3,796	TotalEnergies S.E.		258,152
	1,000	Tourmaline Oil Corporation		44,975
	13,900	Vermilion Energy, Inc.		167,538
	14,500	Whitecap Resources, Inc.		97,070
				4,159,007
		OIL & GAS SERVICES & EQUIPMENT - 1.2%
	3,881	Baker Hughes Company		132,653
	2,140	ChampionX Corporation		62,509
	3,524	Halliburton Company		127,393
	770	Helmerich & Payne, Inc.		27,889
	6,476	Liberty Oilfield Services, Inc., Class A		117,475
	969	Noble Corp plc		46,667
	1,425	NOV, Inc.		28,899
	8,724	Patterson-UTI Energy, Inc.		94,219
	3,908	Schlumberger Ltd.		203,373
	4,187	Transocean Ltd.^(a)		26,587
				867,664
		REAL ESTATE INVESTMENT TRUSTS - 14.5%
	19,700	American Homes 4 Rent, Class A		708,412
	4,000	American Tower Corporation, A		863,520
	15,000	Americold Realty Trust, Inc.		454,050
	4,500	AvalonBay Communities, Inc.		842,490
	5,500	Camden Property Trust		546,095
	18,000	CTO Realty Growth, Inc.		311,940
	1,000	Equinix, Inc.		805,390
	15,300	Highwoods Properties, Inc.		351,288
	20,000	InvenTrust Properties Corporation		506,800

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2% (Continued)
		REAL ESTATE INVESTMENT TRUSTS - 14.5% (Continued)
	14,500	Plymouth Industrial REIT, Inc.	$	349,015
	378	PotlatchDeltic Corporation		18,560
	6,500	Prologis, Inc.		866,450
	2,750	Public Storage		838,750
	1,623	Rayonier, Inc.		54,224
	3,700	SBA Communications Corporation, A		938,653
	5,400	Sun Communities, Inc.		721,710
	17,500	Ventas, Inc.		872,200
	7,300	Welltower, Inc.		658,241
	2,682	Weyerhaeuser Company		93,253
				10,801,041
		RENEWABLE ENERGY - 0.1%
	155	Array Technologies, Inc.^(a)		2,604
	266	Enphase Energy, Inc.^(a)		35,149
	223	First Solar, Inc.^(a)		38,419
	2,163	Shoals Technologies Group, Inc., Class A^(a)		33,613
				109,785
		RESIDENTIAL REIT - 1.1%
	6,750	Equity Residential		412,830
	11,000	Invitation Homes, Inc.		375,210
				788,040
		RETAIL REIT - 0.8%
	6,000	Brixmor Property Group, Inc.		139,620
	10,300	NNN REIT, Inc.		443,930
				583,550
		SELF-STORAGE REIT - 0.9%
	4,100	Extra Space Storage, Inc.		657,353

		SEMICONDUCTORS - 0.1%
	6,500	SUMCO Corporation		97,487

		STEEL - 0.9%
	873	ArcelorMittal S.A. - ADR		24,784
	1,303	ATI, Inc. ^(a)		59,247

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Shares			Fair Value
		COMMON STOCKS — 37.2% (Continued)
		STEEL - 0.9% (Continued)
	22,576	Gerdau S.A. - ADR	$	109,493
	2,200	JFE Holdings, Inc.		34,135
	4,200	Nippon Steel Corporation		96,222
	539	Nucor Corporation		93,808
	1,400	OSAKA Titanium Technologies Company Ltd.		26,931
	60	Reliance Steel & Aluminum Company		16,781
	740	Steel Dynamics, Inc.		87,394
	1,095	Ternium S.A. - ADR		46,505
	1,847	United States Steel Corporation		89,857
				685,157
		WHOLESALE - CONSUMER STAPLES - 0.2%
	1,772	Bunge Global S.A.		178,883

		TOTAL COMMON STOCKS (Cost $26,503,962)		27,876,520

		EXCHANGE-TRADED FUNDS — 19.3%
		EQUITY - 19.3%
	588,600	Timothy Plan Market Neutral ETF ^(b) (Cost $14,652,774)		14,374,730

		PRECIOUS METALS - PHYSICAL HOLDING — 16.9%
		PRECIOUS METAL - 16.9%
	6,143	GOLD BARS - XAU BGN CURNCY ^(a) (Cost $7,240,876)		12,673,732

TIMOTHY PLAN DEFENSIVE STRATEGIES FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 23.7%
		U.S. TREASURY INFLATION PROTECTED — 23.7%
	1,654,856	United States Treasury Inflation Indexed Bonds	0.6250	01/15/24		1,650,466
	1,730,164	United States Treasury Inflation Indexed Bonds	2.3750	01/15/25		1,716,979
	2,255,483	United States Treasury Inflation Indexed Bonds	2.0000	01/15/26		2,239,032
	2,212,207	United States Treasury Inflation Indexed Bonds	2.3750	01/15/27		2,233,965
	2,026,895	United States Treasury Inflation Indexed Bonds	0.5000	01/15/28		1,920,716
	961,946	United States Treasury Inflation Indexed Bonds	1.7500	01/15/28		957,357
	1,498,743	United States Treasury Inflation Indexed Bonds	0.8750	01/15/29		1,437,052
	1,519,012	United States Treasury Inflation Indexed Bonds	2.5000	01/15/29		1,573,173
	2,903,598	United States Treasury Inflation Indexed Bonds	0.1250	01/15/31		2,599,506
	330,163	United States Treasury Inflation Indexed Bonds	2.1250	02/15/41		341,306
	1,589,454	United States Treasury Inflation Indexed Bonds	0.1250	02/15/51		995,495
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $19,383,030)				17,665,047

Shares
		SHORT-TERM INVESTMENTS — 2.5%
		MONEY MARKET FUNDS - 2.5%
	1,890,336	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $1,890,336)^(c)				1,890,336

		TOTAL INVESTMENTS - 99.6% (Cost $69,670,978)			$	74,480,365
		OTHER ASSETS IN EXCESS OF LIABILITIES - 0.4%				293,286
		NET ASSETS - 100.0%			$	74,773,651

ADR	- American Depositary Receipt

ETF	- Exchange-Traded Fund

LTD	- Limited Company

NV	- Naamioze Vennootschap

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

S.A.	- Société Anonyme

^(a)	Non-income producing security.

^(b)	Investment in affiliate.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN STRATEGIC GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023


Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 65.9%
		EQUITY - 65.9%
	121,006	Timothy Plan High Dividend Stock Enhanced ETF^(a)	$	2,736,732
	207,956	Timothy Plan International ETF^(a)		5,499,646
	209,700	Timothy Plan Market Neutral ETF^(a)		5,121,272
	225,039	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(a)		5,128,616
	114,923	Timothy Plan US Small Cap Core ETF^(a)		4,065,976
		TOTAL EXCHANGE-TRADED FUNDS (Cost $22,249,616)		22,552,242

		OPEN END FUNDS — 31.6%
		EQUITY - 13.3%
	382,363	Timothy Plan International Fund, Class A^(a)		4,565,419

		FIXED INCOME - 18.3%
	453,808	Timothy Plan Fixed Income Fund, Class A^(a)		4,184,113
	236,656	Timothy Plan High Yield Bond Fund, Class A^(a)		2,073,107
				6,257,220

		TOTAL OPEN END FUNDS (Cost $11,199,532)		10,822,639

		SHORT-TERM INVESTMENTS — 2.6%
		MONEY MARKET FUNDS - 2.6%
	872,780	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $872,780)^(b)		872,780

		TOTAL INVESTMENTS - 100.1% (Cost $34,321,928)	$	34,247,661
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(40,552	)
		NET ASSETS - 100.0%	$	34,207,109

ETF	- Exchange-Traded Fund

^(a)	Investment in affiliate.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN CONSERVATIVE GROWTH FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023


Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 48.8%
		EQUITY - 48.8%
	102,160	Timothy Plan High Dividend Stock Enhanced ETF^(a)	$	2,310,502
	131,744	Timothy Plan International ETF^(a)		3,484,128
	236,100	Timothy Plan Market Neutral ETF^(a)		5,766,010
	202,686	Timothy Plan US Large/Mid Cap Core Enhanced ETF^(a)		4,619,194
	75,405	Timothy Plan US Small Cap Core ETF^(a)		2,667,829
		TOTAL EXCHANGE-TRADED FUNDS (Cost $18,839,641)		18,847,663

		OPEN END FUNDS — 48.2%
		EQUITY - 11.6%
	374,052	Timothy Plan International Fund, Class A^(a)		4,466,181

		FIXED INCOME - 36.6%
	1,260,743	Timothy Plan Fixed Income Fund, Class A^(a)		11,624,052
	286,914	Timothy Plan High Yield Bond Fund, Class A^(a)		2,513,369
				14,137,421

		TOTAL OPEN END FUNDS (Cost $20,099,481)		18,603,602

		SHORT-TERM INVESTMENTS — 3.1%
		MONEY MARKET FUNDS - 3.1%
	1,202,887	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $1,202,887)^(b)		1,202,887

		TOTAL INVESTMENTS - 100.1% (Cost $40,142,009)	$	38,654,152
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%		(37,293	)
		NET ASSETS - 100.0%	$	38,616,859

ETF	- Exchange-Traded Fund

^(a)	Investment in affiliate.

^(b)	Rate disclosed is the seven day effective yield as of December 31, 2023.

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

December 31, 2023


Shares					Fair Value
		EXCHANGE-TRADED FUNDS — 41.3%
		EQUITY - 41.3%
	295,000	Timothy Plan High Dividend Stock Enhanced ETF^(a)			$	6,671,867
	27,500	Timothy Plan High Dividend Stock ETF^(a)				910,693
		TOTAL EXCHANGE-TRADED FUNDS (Cost $8,197,973)				7,582,560

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 17.9%
		CHEMICALS — 1.4%
	85,000	Nutrien Ltd.	4.0000	12/15/26		83,079
	195,000	Nutrien Ltd.	2.9500	05/13/30		176,314
						259,393
		COMMERCIAL SUPPORT SERVICES — 0.7%
	70,000	Republic Services, Inc.	5.0000	04/01/34		71,805
	50,000	Waste Management, Inc.	4.6250	02/15/33		50,252
						122,057
		ELECTRIC UTILITIES — 2.1%
	245,000	American Electric Power Company, Inc.	3.2000	11/13/27		233,354
	45,000	National Rural Utilities Cooperative Finance	2.9500	02/07/24		44,865
	95,000	National Rural Utilities Cooperative Finance	5.0500	09/15/28		97,448
	22,000	WEC Energy Group, Inc.	3.5500	06/15/25		21,406
						397,073
		GAS & WATER UTILITIES — 1.3%
	240,000	NiSource, Inc.	3.4900	05/15/27		231,252

		INSTITUTIONAL FINANCIAL SERVICES — 0.3%
	55,000	Cboe Global Markets, Inc.	3.6500	01/12/27		53,378

		MACHINERY — 1.4%
	100,000	Caterpillar Financial Services Corporation	4.3500	05/15/26		99,820
	170,000	John Deere Capital Corporation	3.9000	06/07/32		164,169
						263,989

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 17.9% (Continued)
		METALS & MINING — 1.5%
	140,000	BHP Billiton Finance USA Ltd.	5.2500	09/08/33	$	145,511
	120,000	Rio Tinto Finance USA plc	5.0000	03/09/33		125,033
						270,544
		OIL & GAS PRODUCERS — 4.1%
	185,000	Columbia Pipelines Holding Company, LLC^(b)	6.0420	08/15/28		191,118
	220,000	Energy Transfer Operating, L.P.	6.2500	04/15/49		228,047
	125,000	Energy Transfer, L.P.	5.7500	02/15/33		128,957
	70,000	Enterprise Products Operating, LLC	5.3500	01/31/33		73,400
	115,000	Phillips 66 Company	3.6050	02/15/25		112,993
						734,515
		REAL ESTATE INVESTMENT TRUSTS — 1.5%
	170,000	Digital Realty Trust, L.P.	3.7000	08/15/27		163,977
	120,000	Healthpeak Properties, Inc.	3.5000	07/15/29		112,041
						276,018
		RETAIL - CONSUMER STAPLES — 0.9%
	175,000	Dollar General Corporation	4.1250	05/01/28		171,511

		RETAIL - DISCRETIONARY — 1.1%
	205,000	Tractor Supply Company	5.2500	05/15/33		210,181

		TRANSPORTATION & LOGISTICS — 1.6%
	55,000	Canadian Pacific Railway Company	2.9000	02/01/25		53,672
	240,000	CSX Corporation	3.2500	06/01/27		231,302
						284,974

		TOTAL CORPORATE BONDS (Cost $3,256,796)				3,274,885

		NON U.S. GOVERNMENT & AGENCIES — 1.3%
		LOCAL AUTHORITY — 1.3%
	250,000	Province of Ontario Canada (Cost $245,850)	2.5000	04/27/26		239,851

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 38.1%
		AGENCY FIXED RATE — 20.4%
	107,471	Fannie Mae Pool FM5537	2.0000	01/01/36	$	97,111
	70,600	Fannie Mae Pool MA4316	2.5000	04/01/36		65,056
	20,380	Fannie Mae Pool MA4475	2.5000	10/01/41		18,079
	60,938	Fannie Mae Pool MA4617	3.0000	04/01/42		55,720
	46,367	Fannie Mae Pool FM4053	2.5000	08/01/50		40,039
	51,022	Fannie Mae Pool CA8897	3.0000	02/01/51		45,705
	7,606	Fannie Mae Pool MA4258	3.5000	02/01/51		7,086
	20,143	Fannie Mae Pool FM6550	2.0000	03/01/51		16,758
	46,012	Fannie Mae Pool FS1564	2.0000	04/01/51		37,724
	38,968	Fannie Mae Pool CB0855	3.0000	06/01/51		34,584
	61,668	Fannie Mae Pool FS3744	2.0000	07/01/51		50,681
	103,864	Fannie Mae Pool FS1807	3.5000	07/01/51		96,793
	47,640	Fannie Mae Pool FS4624	2.5000	11/01/51		40,796
	162,333	Fannie Mae Pool FS6141	2.0000	01/01/52		133,835
	52,806	Fannie Mae Pool CB2857	2.5000	02/01/52		45,401
	100,368	Fannie Mae Pool CB3486	3.5000	05/01/52		92,207
	70,233	Fannie Mae Pool FS1704	4.0000	05/01/52		67,171
	121,113	Fannie Mae Pool BV9960	4.0000	06/01/52		115,181
	104,804	Fannie Mae Pool FS3071	3.0000	07/01/52		93,766
	164,010	Fannie Mae Pool FS3392	4.0000	09/01/52		155,334
	93,313	Fannie Mae Pool FS3159	4.5000	10/01/52		90,907
	92,331	Fannie Mae Pool FS4075	5.0000	04/01/53		91,995
	101,094	Fannie Mae Pool FS5044	4.5000	06/01/53		98,698
	43,256	Fannie Mae Pool FS4621	5.0000	06/01/53		43,261
	101,907	Fannie Mae Pool FS5850	6.0000	09/01/53		103,640
	49,007	Ginnie Mae I Pool 723248	5.0000	10/15/39		49,490
	48,947	Ginnie Mae I Pool 783403	3.5000	09/15/41		46,172
	42,435	Ginnie Mae II Pool MA3376	3.5000	01/20/46		40,110
	31,715	Ginnie Mae II Pool MA3596	3.0000	04/20/46		29,202
	27,169	Ginnie Mae II Pool MA3663	3.5000	05/20/46		25,635
	35,283	Ginnie Mae II Pool MA3736	3.5000	06/20/46		33,286
	11,973	Ginnie Mae II Pool MA4509	3.0000	06/20/47		10,998
	33,634	Ginnie Mae II Pool MA4652	3.5000	08/20/47		31,699
	31,691	Ginnie Mae II Pool MA4719	3.5000	09/20/47		29,866

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 38.1% (Continued)
		AGENCY FIXED RATE — 20.4% (Continued)
	60,580	Ginnie Mae II Pool MA4778	3.5000	10/20/47	$	57,086
	23,100	Ginnie Mae II Pool MA6092	4.5000	08/20/49		22,717
	17,745	Ginnie Mae II Pool MA6156	4.5000	09/20/49		17,467
	43,509	Ginnie Mae II Pool BN2662	3.0000	10/20/49		39,466
	19,156	Ginnie Mae II Pool MA6221	4.5000	10/20/49		18,938
	16,881	Ginnie Mae II Pool MA6478	5.0000	02/20/50		17,035
	21,085	Ginnie Mae II Pool MA6544	4.5000	03/20/50		20,837
	13,292	Ginnie Mae II Pool MA6545	5.0000	03/20/50		13,417
	95,267	Ginnie Mae II Pool MA6598	2.5000	04/20/50		83,716
	21,006	Ginnie Mae II Pool MA6600	3.5000	04/20/50		19,754
	19,079	Ginnie Mae II Pool MA6601	4.0000	04/20/50		18,405
	24,824	Ginnie Mae II Pool MA6603	5.0000	04/20/50		25,052
	46,392	Ginnie Mae II Pool MA7255	2.5000	03/20/51		40,613
	37,681	Ginnie Mae II Pool MA7418	2.5000	06/20/51		32,992
	57,075	Ginnie Mae II Pool MA7419	3.0000	06/20/51		51,853
	50,877	Ginnie Mae II Pool MA7472	2.5000	07/20/51		44,568
	63,434	Ginnie Mae II Pool CE1974	3.0000	08/20/51		58,160
	73,762	Ginnie Mae II Pool CE1990	2.5000	09/20/51		64,500
	129,878	Ginnie Mae II Pool MA7705	2.5000	11/20/51		113,685
	133,783	Ginnie Mae II Pool MA7768	3.0000	12/20/51		121,221
	56,349	Ginnie Mae II Pool MA7829	3.5000	01/20/52		52,482
	74,376	Ginnie Mae II Pool MA7939	4.0000	03/20/52		71,015
	137,340	Ginnie Mae II Pool MA7987	2.5000	04/20/52		120,183
	131,434	Ginnie Mae II Pool MA8098	3.0000	06/20/52		119,079
	107,990	Ginnie Mae II Pool MA8268	4.5000	09/20/52		105,469
	92,788	Ginnie Mae II Pool MA8800	5.0000	04/20/53		92,278
	172,809	Ginnie Mae II Pool MA8943	3.0000	06/20/53		156,928
	103,770	Ginnie Mae II Pool MA9017	5.5000	07/20/53		104,479
		TOTAL AGENCY FIXED RATE (Cost $3,905,309)				3,737,381

		U.S. TREASURY NOTES — 17.7%
	280,000	United States Treasury Note	2.2500	11/15/24		273,733
	70,000	United States Treasury Note	2.0000	08/15/25		67,372
	565,000	United States Treasury Note	0.6250	07/31/26		517,703

TIMOTHY PLAN GROWTH & INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

December 31, 2023


Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 38.1% (Continued)
		U.S. TREASURY NOTES — 17.7% (Continued)
	475,000	United States Treasury Note	1.2500	09/30/28	$	421,414
	515,000	United States Treasury Note	1.2500	08/15/31		426,907
	435,000	United States Treasury Note	3.5000	02/15/33		422,664
	430,000	United States Treasury Note	1.7500	08/15/41		300,278
	250,000	United States Treasury Note	2.0000	08/15/51		164,121
	700,000	United States Treasury Note	3.6250	02/15/53		649,523
		TOTAL U.S. TREASURY NOTES (Cost $3,288,363)				3,243,715

		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $7,193,672)				6,981,096

Shares
		SHORT-TERM INVESTMENTS — 1.2%
		MONEY MARKET FUNDS - 1.2%
	223,033	Fidelity Money Market Government Portfolio Class I, 5.24% (Cost $223,033)^(c)				223,033

		TOTAL INVESTMENTS - 99.8% (Cost $19,117,324)			$	18,301,425
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.2%				39,444
		NET ASSETS - 100.0%			$	18,340,869

ETF	- Exchange-Traded Fund

LLC	- Limited Liability Company

LP	- Limited Partnership

LTD	- Limited Company

PLC	- Public Limited Company

REIT	- Real Estate Investment Trust

^(a)	Investment in affiliate.

^(b)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2023 the total market value of 144A securities is 191,118 or 1.0% of net assets.

^(c)	Rate disclosed is the seven day effective yield as of December 31, 2023.